REG - CC Japan Inc&Growth - Subscription Shares - exercise notice

CC Japan Income and Growth TrustAnnouncement

27/01/2023 17:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230127:nRSa1638Oa&default-theme=true

RNS Number : 1638O  CC Japan Income & Growth Trust PLC  27 January 2023

27 January 2023

CC Japan Income & Growth Trust plc

 

(the "Company")

 

Subscription Shares - exercise notice

 

As a reminder, the final exercise date for the Subscription Shares is the last
business day in February 2023, being 28 February 2023 (the "Final Subscription
Date").

 

If holders of Subscription Shares  ("Subscription Shareholders") choose to
exercise their Subscription Share Rights on 1 /before this date, they will
acquire one new Ordinary Share at a fixed price of 161 pence per Ordinary
Share for each Subscription Share Right exercised.

 

Subscription Shareholders are under no obligation to exercise their
Subscription Share Rights and the Board would like to remind all Subscription
Shareholders of the importance of reviewing the current market price of
Ordinary Shares before deciding to exercise any Subscription Shares. If in any
doubt about the action to be taken, shareholders should consult a stockbroker
or other independent professional adviser authorised under the Financial
Services and Markets Act 2000.

 

The Articles provide that, following the Final Subscription Date, the Company
will appoint a trustee to act on behalf of the Subscription Shareholders (if
any) who have not exercised their Subscription Share Rights by the Final
Subscription Date. If, in the opinion of the trustee, the net proceeds of sale
after deduction of all costs and expenses incurred by, and any fee payble to,
such trustee will exceed the costs of exercising the Subscription Share
Rights, the trustee will exercise the outstanding Subscription Share Rights
(or a proportion of such rights as the trustee may in its absolute discretion
determine) within 14 days of the Final Subscription Date and sell the Ordinary
Shares resulting from such exercise in the market.

 

In these circumstances, the trustee would distribute pro rata the proceeds of
any such sale, less the costs of exercising the Subscription Share Rights
(including payment of the Subscription Share exercise price) and such other
fees, costs and expenses to the persons entitled thereto (being, regardless of
whether the trustee has exercised all or only a proportion of the unexercised
Subscription Share Rights, all Subscription Shareholders outstanding
immediately prior to such exercise) at the risk of such persons as soon as
practicable, provided that entitlements of under £5.00 per Subscription
Shareholder will be retained for the benefit of the Company.

 

If the trustee does not exercise the Subscription Share Rights within the
period of 14 days following the Final Subscription Date, all the unexercised
Subscription Share Rights will lapse and the lapsed Subscription Shares will
be redesignated as Deferred Shares with immediate effect from the date of such
lapse and then be repurchased by the Company for a nominal value.

 

The trustee's decision in respect of the above will be final and binding on
all holders of outstanding Subscription Shares.

 

We would also refer you to the Prospectus and Circular to Shareholders issued
on 22 January 2021 (the "Prospectus") which gives full details of the bonus
issue of Subscription Shares and is available on the Company's website:
www.ccjapanincomeandgrowthtrust.com
(http://www.ccjapanincomeandgrowthtrust.com)

Capitalised terms used but not defined in this announcement have the meanings
given to them in the Prospectus.

 

Enquiries:

 

Apex Listed Companies Services (UK) Limited

 Brian Smith / Ciara McKillop

 020 3327 9720

 Peel Hunt LLP

 Luke Simpson / Liz Yong / Huw Jeremy

 020 7418 8900

 

This announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America.  This announcement is
not an offer of securities for sale into the United States.  The securities
referred to herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the
United States, except pursuant to an applicable exemption from registration.
No public offering of securities is being made in the United States.

 1  By no later than 6.00 p.m. on 28 February 2023.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCBRGDBXBDDGXR